California Insurance Code

§ 12357

INS § 12357Div. 2 · Part 6 · Ch. 1 · Art. 2

Statute text

Unless the mortgage is covered by mortgage insurance, the value of the property covered by each such mortgage constituting all or part of such deposit in this State shall be appraised by one or more appraisers selected or approved by the commissioner. The appraisers shall be familiar with property values of the particular type of property and generally in the region in which the property or some part thereof is situated.

Legislative history

Amended by Stats. 1937, Ch. 732.